Billionaire Ken Talbot started in the mining industry more than 40 years ago and went on to become one of its key figures in Queensland, as well as one of Australia's richest men.

Mr Talbot was on board an aircraft carrying six executives from Perth-based mining company Sundance Resources, which crashed into thick jungle in the west African nation of Congo.

Search teams say there are no survivors in the wreckage of the Australian-chartered plane.

The wreckage was discovered about 10 kilometres inside the Congolese border after an intense search involving at least three countries including Cameroon, Gabon and Congo.

Emergency workers have already recovered nine bodies and they do not believe there are any survivors, Cameroon's information minister Issa Bakary said.

Diverse mining interests

Mr Talbot began his career in 1968 as a BHP cadet in Wollongong and 20 years later he helped develop the Jellinbah East coal mine in Queensland's Bowen Basin.

In the early 1990s, he started the wholly owned private investment company the Talbot Group, which initially focussed on coal but later diversified into uranium, iron ore and property.

In 1995, he founded Macarthur Coal and over the next decade helped develop Queensland's Coppabella and Moorvale mines.

But in 2008, Mr Talbot sold his stake amid corruption allegations.

He was due to stand trial in August for allegedly paying $300,000 in secret commissions to former Queensland Government minister Gordon Nuttall.

Mr Talbot also made headlines for making payments to the disabled children of former Brisbane Broncos coach Wayne Bennett.

He has been described by colleagues as a self-made man and the "quintessential entrepreneur", as well as a generous benefactor to a range of charities.

'Fearless risk-taker'

Talbot Group chairman Don Nissen says Mr Talbot's family is holding up well under the circumstances.

He has paid tribute to a man he has described as hardworking and a fearless risk-taker.

"Ken Talbot, the man, cast a bid shadow and was quite a character and quite a big person in the Queensland landscape over a long period," he said.

"He was an entrepreneur, he was a real gentleman."

Macarthur Coal head Nicole Hollows says Mr Talbot was a pioneer of the mining industry and was not afraid to take risks to reach his goals.

"We were one of the first people to uncut a dragline and bring it over here," he said.

"He took calculated risks and he looked at things in a different way and he was prepared to do that and I think the industry will miss that."

Queensland Resources Council (QRC) chief executive Michael Roche says the industry is coming to terms with the news.

Mr Talbot served on the QRC board from 2001 to 2007.

Mr Roche says Mr Talbot was a loving father and husband, and a generous man who was driven by his work.

"It's the news we all feared unfortunately and this is a great tragedy for a loving husband, father, as well as the public persona - the entrepreneur, the industry visionary," he said.

He says Mr Talbot played a major role in shaping Queensland's coal industry.

"A lot of people don't realise that he opened up a whole new export market niche for Queensland with the type of coal that his company Macarthur Coal was marketing," he said.

"People probably don't realise that he was a pioneer in opening up investment links with China, and he brought the Chinese in as an investor in his company way back in 1997."

'Very sadly missed'

Queensland's Premier Anna Bligh has passed on her condolences to Ken Talbot's family.

"Ken Talbot is someone who has played a very significant role in the economic development," she said.

"He's employed a lot of people - he's created a lot of opportunities - and I know that he'll be very sadly missed by a lot of Queenslanders and particularly his very young family.

"I send my condolences and sympathy to the family of Ken Talbot and indeed the family and friends of all of the Australians who've lost their lives in this plane crash.

"This is a tragedy for these families and I think very unexpected."

Courier Mail business columnist James McCullough was a friend of Mr Talbot.

He says he will be remembered as a person who helped build the state's economy.

"He was a very engaging man," he said.

"He had a great sense of humour and he was the sort of guy that would be more than happy to be in the board room discussing the intricacies of long wall mining techniques.

"He'd be equally at home to be in his favourite box at Suncorp stadium or Ballymore, or the local pub."

'Loyal supporter'

Meanwhile, Brisbane Broncos chief executive Bruno Cullen says Mr Talbot was a loyal supporter of the club since it started.

He says the Broncos will honour Mr Talbot in their next home game.

Mr Cullen says the mining billionaire took a genuine interest in the welfare of players and often gave them advice about career opportunities after football.

"We would like to pay our respects our respects to Ken and of course we will do that in an appropriate fashion," he said.

"Ken was one of the guys that loved to be around the players and point them in the right direction with regard to their futures after football.

"As importantly for the club, Ken was a wonderful corporate supporter of the club for a long period of time.

"Ever since we have been back at Suncorp Stadium for the last eight seasons, he has been very prominent there with his corporate support and we really appreciate that and we feel very sad at the events of the last few days."

Mr Talbot's private investment group has a stake in 14 companies internationally and his wealth was forecast to reach to $1 billion this year.